Bond Market Update

Losses Maintained

• U.S. Treasuries hover just above their late-morning lows, having spent the past two hours in a sideways range. With today's selling, yields on all tenors are now back above their respective 50-day moving averages. Still, yields on the 5-yr note and longer tenors remain down for the week while the 2-yr yield is up four basis points for the week. In Washington, President Trump said that he will make an announcement on reciprocal trade next week and that he will discuss the sale of US Steel to Nippon Steel with Japan's Prime Minister Ishiba, who is visiting the White House.
• Yield Check:
  • 2-yr: +7 bps to 4.28%
  • 3-yr: +7 bps to 4.30%
  • 5-yr: +7 bps to 4.34%
  • 10-yr: +5 bps to 4.49%
  • 30-yr: +5 bps to 4.70%